Deloitte audit activity heats up with Wolseley win
The change, announced to the stock market today, follows the conclusion of a formal tender process for the FTSE100 company's statutory audit
WOLSELEY, the world’s largest trade distributor of plumbing and heating products, has replaced PwC as auditors with the appointment of Big Four rival, Deloitte.
The change, the first at the company since at least 1961 when it listed, announced to the stock market today, follows the conclusion of a formal tender process for the FTSE 100 company’s statutory audit.
Following completion of the audit of the accounts for the year ending 31 July 2015, Deloitte will be appointed as Wolseley‘s statutory auditors, subject to approval by shareholders at the 2015 AGM.
Darren Shapland, chairman of Wolseley’s audit committee, said: “We thank PwC for their significant contribution and dedication as Wolseley’s auditors and we look forward to working with Deloitte in the future.
Audit fees for 2014 were £3.4m in addition to £1.4m in non-audit fees.